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Revenue and Other Income | 12 Months Ended
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Jun. 30, 2024
Revenue and Other Income [Abstract] |
Revenue and other income | Note 3. Revenue and other income
|  |  |  | 30 June 2024 |  |  | 30 June 2023 |  |  | 30 June 2022 |
|  | Notes |  | A$ |  |  | A$ |  |  | A$ |
Revenue |  |  |  |  |  |  |  |  |  |  |
Revenue from Operating Activities |  |  |  |  |  |  |  |  |  |  |
Revenue from contracts with customers at a point in time |  |  |  |  | 4,902,865 |  |  |  | 1,804,705 |  |  |  | 765,193 |
Total Revenue from Operating Activities |  |  |  |  | 4,902,865 |  |  |  | 1,804,705 |  |  |  | 765,193 |
Grant Income |  |  |  |  |  |  |  |  |  |  |  |  |  |
Australian R&D tax incentive refund |  |  |  |  | 764,981 |  |  |  | 392,877 |  |  |  | 257,500 |
MTEC R&D grant |  |  |  |  | 2,599,458 |  |  |  | 2,158,936 |  |  |  | 369,045 |
HJF R&D grant |  |  |  |  | - |  |  |  | - |  |  |  | 306,595 |
EMDG grant |  |  |  |  | 28,000 |  |  |  | 28,000 |  |  |  | - |
Other income |  |  |  |  | 15,760 |  |  |  | 11,685 |  |  |  | 24,585 |
Total Grant Income |  |  |  |  | 3,408,199 |  |  |  | 2,591,498 |  |  |  | 957,725 |
Other Gains/(Losses) – Net |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value gains/(losses) to financial assets |  | 8 (c)(ii) |  |  | (557,676 | ) |  |  | (523,666 | ) |  |  | - |
Net foreign exchange gains/(losses) |  |  |  |  | (27,603 | ) |  |  | 363,724 |  |  |  | 247,558 |
Movement in inventory provision |  |  |  |  | - |  |  |  | 430,932 |  |  |  | - |
(i) | Fair value of R&D tax incentive refund
The group’s R&D activities are eligible under an Australian government tax incentive for eligible expenditure. Management has assessed these activities and expenditure to determine which are likely to be eligible under the incentive scheme. Amounts are recognized when it has been established that the conditions of the tax incentive have been met and that the expected amount can be reliably measured.
| (ii) | R&D grants from MTEC
The group’s other grant income is recognized when compliance with the conditions attached to the grant have been determined and the group has ascertained the grant will be received and the amount can be reliably measured. For the year ended 30 June 2024, the group has recognized $2,599,458 (2023: $2,158,936) R&D grant from Medical Technology Enterprise Consortium (“MTEC”). This is to recognize income over the year necessary to match the grants on a systematic basis with the costs that they are intended to compensate.

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